Biocept Appoints Financial Executive Quyen Dao-Haddock to its Board of Directors

Rhea-AI Summary

Biocept, Inc. (NASDAQ: BIOC) announces the appointment of Quyen Dao-Haddock to its Board of Directors, expanding the board to eight members. Dao-Haddock, a CPA with over 20 years of financial experience, will serve on the Audit Committee. Her background includes roles at various real estate investment trusts, enhancing the company's financial governance. The Chair, Samuel Riccitelli, expressed confidence that her expertise will support Biocept's goal of establishing its CNSide cerebrospinal fluid assay as a standard-of-care diagnostic for cancer patients.

Positive

• Appointment of Quyen Dao-Haddock adds significant financial expertise to the Board.
• Dao-Haddock's experience in financial operations may strengthen governance.
• The focus on CNSide aims to enhance diagnostic capabilities in cancer treatment.

Negative

• Concerns over continuity and experience in the Board may arise due to new membership.

SAN DIEGO--(BUSINESS WIRE)-- Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, announces the appointment of Quyen Dao-Haddock to its Board of Directors, effective immediately, increasing Board membership to eight. Ms. Dao-Haddock is a certified public accountant (CPA) with more than 20 years of financial and accounting experience. She will serve on Biocept’s Audit Committee.

“Quyen’s extensive financial experience leading accounting and finance departments, and overseeing technical accounting, budgeting and forecasting, financial modeling, cash management and SEC reporting, make her a valuable addition to our Board and its Audit Committee,” said Samuel D. Riccitelli, Biocept’s Chairman, and interim President and CEO. “We expect Quyen will make significant contributions as we seek standard-of-care status for our proprietary cerebrospinal fluid assay CNSide™ and focus on delivering value to our stockholders.”

“It’s an exciting time to join the Biocept Board as the Company directs its resources toward providing valuable information to improve clinical outcomes for patients with cancer and central nervous system involvement, who oftentimes have extremely poor prognoses,” said Ms. Dao-Haddock. “I’m delighted to utilize my skills and expertise to support the advancement of CNSide and the Company’s diagnostic programs.”

Ms. Dao-Haddock serves as controller of IQHQ, Inc., a $2.5 billion start-up real estate investment trust (REIT) focused on the life sciences industry, with responsibility for scaling the accounting and finance department and establishing and implementing comprehensive accounting policies. She previously was Chief Accounting Officer of Presidio Property Trust, Inc., where she was responsible for all financial and accounting operations of this REIT with more than $30 million in annual revenues and $200 million in assets. Earlier she was Corporate Controller of American Assets Trust, Inc., an NYSE-listed REIT with more than $315 million in annual revenues and $2 billion in assets, and Controller at Pacific Corporate Group, LLC, a private equity firm with $30 million in revenue and $16 billion in assets. She began her career as an Audit Manager at KPMG LLP.

Ms. Dao-Haddock serves on the Audit & Compliance Committee of Sharp HealthCare. She received a BS in Business Administration, Accounting from San Diego State University.

About Biocept

Biocept, Inc. develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn, Twitter, and Instagram.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to be correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," “goal,” or "project," or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this press release are not strictly historical, including, without limitation, statements regarding our ability to establish CNSide as the new standard-of-care diagnostic test for patients with metastatic cancer that has spread to the central nervous systems, and the ability of our products, including CNSide, to provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risks and uncertainties, including risks and uncertainties associated with the ability of our products to compete successfully with competitive products or treatments; our ability to obtain and maintain adequate reimbursement for our products; and the risk that our products and services may not perform as expected. These and other factors are described in greater detail under the "Risk Factors" heading of Biocept’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on November 10, 2022. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this press release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC at http://www.sec.gov/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221118005082/en/

Investor and Media Contact:

Jody Cain, LHA Investor Relations

Jcain@lhai.com, 310-691-7100

Source: Biocept, Inc.

FAQ

What recent changes were made to Biocept's Board of Directors?

Quyen Dao-Haddock was appointed to Biocept's Board, increasing membership to eight.

Who is Quyen Dao-Haddock and what is her experience?

Quyen Dao-Haddock is a CPA with over 20 years of experience in financial management, previously serving in key roles at various companies.

What is the significance of appointing Quyen Dao-Haddock to Biocept's Board?

Her appointment is expected to strengthen financial oversight and support Biocept's goals, particularly regarding the CNSide assay.

How does Biocept plan to advance its CNSide assay?

Biocept aims to establish CNSide as a standard-of-care diagnostic test for patients with metastatic cancer affecting the central nervous system.